Running a business can be stressful and one thing that keeps many business owners up at night is thinking about their company finances. Every business owner wants their company to deliver healthy returns, but this can be difficult to achieve.
During these uncertain economic times, it is vital for companies to actively look for ways to reduce their running costs. One of the highest running costs business owners face is the cost of power. Electricity costs seem to be continually increasing as the wholesale price of natural gas continues to rise, which is bad news for business owners hoping to keep costs low. But, while you cannot control the cost of electricity, it is possible to take action to reduce your energy expenditure.
Of course, improving the energy efficiency of your business is also about more than just saving money. Reducing energy consumption at your organisation can help you to play a part in protecting the planet and reducing your business’s carbon footprint, which is excellent news for the planet and your company finances. If you are keen to improve your business’s energy efficiency, you should find these tips help you achieve this:
Assess Your Current Energy Consumption
Assessing how much energy your business currently uses is an essential task before implementing changes. Understanding which areas of your business cost the most to run is an excellent starting point and will provide you with a helpful insight into your business’s energy use. Armed with this information, you will be in a position to make changes and actively reduce your company’s energy consumption.
Set Specific Targets
If you are serious about reducing electricity use at your business, setting specific targets for your energy savings is essential. If your goals are too vague, it is unlikely you will achieve them, as you will not be able to measure your results or know when you have reached your target. Instead, it is a good idea to try a different approach to goal setting and try the objectives and key results method to establish your aims and help you make them happen.
Make Practical Changes
Based on the insights you gained from monitoring your energy consumption, you should have a clear idea in mind of where you need to focus your attention and the action you need to take. Here are some of the practical changes you could make to help cut your business’s electricity consumption:
- Reminding staff to turn off equipment when not in use (where safe and practical to do so) will put a stop to you paying for energy that you do not need.
- Install sensor-activated lighting so that the lights are only activated for use.
- Go paperless to reduce the use of printers, copiers, and shredders.
- Switch from regular light bulbs to energy-saving alternatives to make significant savings from a small change.
Monitor Your Results
After establishing your objectives, you need to continue monitoring your progress to achieve the best possible results from your efforts and meet your energy-saving objectives.
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